In a Periodic Inventory System,the Purchase of Inventory Is Debited

question 38

Multiple Choice

In a periodic inventory system,the purchase of inventory is debited to:

• A)Purchases.
• B)Cost of goods sold.
• C)Inventory.
• D)Accounts payable.

---

Definitions:

Taxi Fares

Charges levied for the service of transporting individuals in a taxi, typically calculated based on distance, time, or a combination of both.

Payroll

The total amount of money that a company pays to its employees, including wages, salaries, bonuses, and deductions.

Ethical Behaviour

Acting in ways that are consistent with societal and professional standards of conduct, including honesty, fairness, and integrity.

Clothing Factory

A manufacturing facility specializing in the production of garments and textiles, often involving assembly line methods for mass production.